Directive No. 02-DEE-DSP-DRO-2019, dated February 21

THE GOVERNOR
DIRECTIVE NO. 002/DSP/DRO/2019
ORIGIN: Payments System Department (DSP)
Financial System Regulation and Organization Department (DRO) DATE 21/02/2019 SUBJECT: Validity Period of Payment Cards

Given the need to improve the quality of services provided by payment card issuers, as stipulated in Notice No. 05/17 of July 10 regarding payment cards and the Multicaixa network, concerning the issuance, acceptance, and use of payment cards; Considering, equally, the need to address challenges in the retail payments market by ensuring the security and efficiency of using said cards for cash withdrawals or payments, issuing financial institutions must verify that their clauses comply with the minimum general conditions for payment card use, making any necessary or convenient amendments; This Directive serves to establish the following:

1. The minimum validity period of payment cards shall not be less than 24 (twenty-four) months, with said period printed on the card and valid until the last day of the month, calculated from the date indicated on said card.
2. Payment cards must be personalized; issuers shall register, store, and manage the identification of the cardholder who contracts the card and those authorized to use it, in accordance with the adhesion contract governed by terms and conditions established under applicable specific regulations.

DIRECTIVE NO. 002/DSP/DRO/2019 Page 2 of 2
3. Financial institutions may, exceptionally, provide non-personalized payment cards whenever specific situations arise, namely account opening, deterioration, theft, loss of the PIN or payment card, or other provisional circumstances.
4. Financial institutions are obligated to replace a non-personalized payment card with a personalized one, in accordance with the conditions set forth in item 2 of this Directive; such replacement must occur within a maximum period of 2 (two) months, calculated from the date the non-personalized card is provided.
5. Non-compliance with this Directive subjects financial institutions to penalties stipulated in the Angolan Payments System Law and the Financial Institutions Framework Law.
6. Doubts and omissions arising from the interpretation and application of this Directive shall be resolved by the Central Bank of Angola.
7. This Directive enters into force immediately.

Luanda, February 21, 2019.
PAYMENTS SYSTEM DEPARTMENT

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Francisco Ângelo Canvula Manuel
FINANCIAL SYSTEM REGULATION AND ORGANIZATION DEPARTMENT _____________________________________________ Carla Marisa Rodrigues Madeira Gomes